MAI Capital Management Has $1.61 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

MAI Capital Management decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,811 shares of the financial services provider’s stock after selling 218 shares during the period. MAI Capital Management’s holdings in Equinix were worth $1,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix during the second quarter worth approximately $30,000. LRI Investments LLC acquired a new stake in shares of Equinix in the first quarter valued at approximately $31,000. GHP Investment Advisors Inc. increased its holdings in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Equinix in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Down 0.4 %

Shares of EQIX stock opened at $918.94 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02. The firm’s fifty day moving average price is $889.31 and its two-hundred day moving average price is $822.27. The firm has a market capitalization of $88.67 billion, a P/E ratio of 82.86, a PEG ratio of 2.25 and a beta of 0.71.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.85%. Equinix’s payout ratio is currently 153.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EQIX shares. Wells Fargo & Company raised their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus raised their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets raised their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Finally, Evercore ISI raised their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

Insider Buying and Selling at Equinix

In related news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The trade was a 9.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,754 shares of company stock worth $11,666,756. Insiders own 0.27% of the company’s stock.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.